IDFC may re-test Rs 122-128: Manghnani

IDFC may re-test Rs 122-128, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "IDFC went and retested the February bottom of Rs 110; I think from Rs 110 to nearly Rs 140 is a big move. So Rs 138 -146 ranges is a shorting area for me and back to Rs 128-122 is where I think the stock will come and retest."
The company's trailing 12-month (TTM) EPS was at Rs 5.55 per share. (Mar, 2011). The stock's price-to-earnings (P/E) ratio was 24.49. The latest book value of the company is Rs 48.09 per share. At current value, the price-to-book value of the company was 2.83. The dividend yield of the company was 1.47%.